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India prepared to face Fed tapering, to grow 5%: Chidambaram

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Story Dated: Wednesday, January 22, 2014 12:26 hrs UTC

Assuring global investors that India is prepared to face the impact of U.S. Fed tapering, Union Finance Minister P Chidambaram on Wednesday said the country is poised to clock 5 per cent growth in the current fiscal and over 6 per cent a year after.The Indian economy, he said while addressing the World Economic Forum (WEF) meeting in Davos, has “stabilised and it is poised to return to high growth path and step by step we will go back to 8 per cent growth rate“.In the current financial year,

 

 

Mr. Chidambaram said the country would see a growth of about 5 per cent, “but next fiscal we will cross 6 per cent“.India’s growth rate slipped to a decade-low of 5 per cent in 2012-13 fiscal.

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